EXHIBIT A
COUNTRYWIDE CREDIT INDUSTRIES, INC.
DEFERRED COMPENSATION AGREEMENT
FOR NON-EMPLOYEE DIRECTORS
ELECTION FORM
TO: Countrywide Credit Industries, Inc.
In accordance with the provisions of the above-named Agreement, I hereby elect
to defer the cash compensation otherwise to become payable to me for services to
be rendered by me as a non-employee member of the Board of Directors, and
committees thereof, of Countrywide Credit Industries, Inc. during the period
commencing [insert date] and ending on [insert date], as follows:
A. Amount of Deferral: _______% of annual retainer and fees.
B. The Director Deferral Account shall be credited with interest as described in
The Agreement.
C. The cash compensation deferral is to be paid to me as follows (check one,
either number 1 or 2):
1. _______ In a single lump payment by January 31 of the first full
calendar year following (check one, either a, b or c):
a. ______ The termination of my services as a director.
b. ______ The completion of _____ (insert a whole number not less
than 3) calendar years following the year of deferral.
c. ______ The first to occur of either a or b.
2. _______ In equal monthly payments calculated to exhaust the amount
of the deferral and credit interest to the Director Deferral
Account within ________ (insert a whole number between 2 and 15)
years. The first such monthly payment will be made on the first of
the month following the termination of my services as a director.
D. In the event that my death occurs before I have received all of the
deferred payments, a lump sum payment shall be made to (insert name and
address of beneficiary):
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The death benefit shall be paid to the beneficiary specified above as
follows (check one, either number 1 or 2):
1. ______ over the period of years specified
above, with the first payment to be made on
the first of the month following my death.
2. ______ in a single lump sum to be payable (check one, either a or b)
a) _____ in the month following my death.
b) _____ in the first month of the year following my death.
I hereby agree to be bound by the terms of the Agreement, including any
amendments thereof, and recognize that the foregoing election, with the
exception of the above-designated beneficiary, is irrevocable and may not be
altered by me.
__/s/_______________________________________
Received on behalf of
Countrywide Credit Industries, Inc.
By: _/s/___________________
Xxxxxx X. Xxxxxxx
Secretary
